China’s zero-tariff window offers fresh hope for Nigerian businesses

Nigeria has unveiled plans to reduce its long-standing trade deficit with China by taking fuller advantage of Beijing’s zero-tariff policy and expanding the volume of goods exported to the Asian economic giant.

The commitment was outlined by Nigeria’s Ambassador to China, Abdulrahman Dambazau, during an interview with members of the Nigerian delegation attending the African Mainstream Media Workshop organised by the International Department of the Communist Party of China in Beijing on Thursday.

Dambazau said commercial exchanges between both countries were valued at about 28 billion dollars, but pointed out that Nigeria’s contribution to that figure was only about three billion dollars, a situation he described as unsatisfactory.

He said the Chinese zero-tariff initiative could significantly improve Nigeria’s export performance, provided local producers and exporters understood the conditions attached to the scheme and met the required standards.

“We have to study the policy itself, understand the conditions and requirements and then take the information to our farmers, traders and exporters so they can take advantage of it,” he said.

According to the ambassador, the Nigerian mission in China has already begun consultations to understand how the policy will operate in practice and to ensure businesses and other stakeholders are adequately informed.

He stressed that increasing production, raising product standards and adding value to Nigerian goods would be essential if the country was to make meaningful gains from the opportunity.

Dambazau added that the embassy would sustain collaboration with relevant government agencies and private sector operators to help Nigeria strengthen its position in the Chinese market and derive greater benefits from the economic relationship between the two countries.